Thule bounced back from a slow first half and reported a very strong fourth quarter and full-year in 2005. The North American and European divisions both saw considerable sales increases with corresponding bottom-line gains. Full-year sales increased during 2005 by 13.5% to SEK 3.16 billion ($424.7 mm) compared to SEK 2.79 billion ($379.9 mm) last year. Adjusted for currency and acquisition effects, the increase was 6.7%.
Thule's EBITA before one-off items increased by 10.8% to SEK 391 million ($52.6 mm) compared to SEK 353 million ($48.1 mm) last year. For the full year, North America sales increased 3.6% to $86 million compared to $83 million last year in 2005.
According to Thule management, after a very slow start of the year the division successfully refocused its sales organization, gained market share from competition and broadened the market with new product offerings. Water sport accessories became the most sold product category, while box sales for the automotive aftermarket suffered from the weaker demand in that segment.
